Conference: Green Bonds & Green Finance in CHN

中国绿色债券与绿色金融会议

7 April 2016, Beijing | 2016年4月7日，北京

As a response to increasing concerns about climate change impacts, efforts to re-align our economies to a more sustainable path have risen significantly worldwide. The investments required to achieve such a green transformation are enormous. In China alone, over USD 6.6 trillion (CNY 41 trillion) are needed to reach the government’s carbon reduction plan, according to China’s National Development and Reform Commission. A still novel but increasingly recognized financial instrument used by development banks, governments and private companies to effectively raise the private capital urgently needed for such investments are green bonds.

With the release of new guidelines on green bond issuance in China’s inter-bank bond market and of the Green Projects Catalogue in December 2015, the People’s Bank of China (PBoC) is the first national regulator that provides binding regulations on assets and projects qualified for green bonds. Given the government’s strong commitment to foster the green transition – and against the background of China’s current G20 presidency – the Chinese green bond market is expected to pick up significantly, generating large-scale spillover effects for other markets in the region and globally.

Expanding its commitment to green financial sector development, GIZ has entered a Strategic Alliance on Green Bond Market Development in G20 Emerging Economies with the Swedish Skandinaviska Enskilda Banken (SEB), which is one of the inventors of the green bond concept and the leading knowledge provider with regards to the development of the green bond product and market worldwide.

Based on this cooperation between PBoC, GIZ and SEB, which is supported by the Chongyang Institute for Financial Studies and China’s Green Finance Committee, a conference on Green Bonds and Green Finance was organized in Beijing on 7 April 2016.

The objective of the event was to present new research, instruments and approaches to integrate environmental indicators into financial decision making in order to mobilize capital for green investments. Based on these presentations, we discussed with finance professionals, international experts and policymakers, next steps to support the green financial transformation. We, furthermore, sought to support the multi-stakeholder process that promotes the development of a prosperous and efficient market for green bonds in China. The conference therefore comprised regulators and policymakers, second opinion providers, financial institutions, investors and potential public and private sector issuers.

In order to achieve the goal, conference participants discussed further steps that will contribute to the enhancement of a conducive regulatory framework in support of sustainable green bond market development. Leading financial institutions and green bond issuers from Asia and Europe shared first-hand expertise and experience in realizing successful green bond issuances. Experts on second opinion provision for green bonds gave insights into the delivery of highest quality certification and verification standards for green bonds.

Furthermore, the conference served as a platform to build a strong network and schedule follow-up meetings with regulators, potential issuers and second opinion providers, which will be upcoming within the framework of the GIZ/SEB Strategic Alliance.

Agenda

Agenda (English)

Presentations

Panel 1: Green Financial Sector Development in China and the G20 Economies 中国绿色金融业发展及G20经济体

Panel 2: Developing Methodologies and Models for Environmental Stress Testing 环境压力测试方法及模型的开发

Dominic Smith, Risk Management Solutions (RMS): Innovation in Environmental Stress Testing | 风险建模解决方案􀄍RMS􀄎公司，企业社会责任部总监，多米尼克史密斯先生
Dr. Yin Hong, Urban Finance Research Institute of ICBC: Environmental Stress Testing in on Commercial Banks’ Credit Risk | 中国工商银行，城市金融研究所副所长，殷红博士 – Chinese
Sue Howells, CDP: CDP and Investor Use of Data | CDP 全球首席联合运营官，霍威尔女士

Panel 3: Best Practices in Green Bond Issuance – Opportunities for Private and Public Issuers 绿色债券发行最佳实践􂚶 对公私部门发行人的机会

Axel Bendiek, German State of North Rhine Westphalia: Sustainability Strategy North Rhine-Westphalia | 德国北莱茵威斯特法伦州，司库，阿克塞尔.本迪克先生 – Chinese
Björn Söderlundh, Kommuninvest: Fossil Free Sweden | Kommuninvest, 信贷部总监，比扬恩.孙德隆特先生 – Chinese
Li Qiuju, National Association of Financial Market Institutional Investors (NAFMII) |中国银行间交易商协会, 市场创新部, 李秋菊女士 – Chinese Version

Panel 4: Mobilizing Capital for the Green Transition in China – The Case for Green Bonds | 中国为绿色转型筹资 􂚶 绿色债券案例

Panel 5: Building Trust in Green Bonds – Second Opinion Services and Green Credit Ratings | 建立对绿色债券的信任􂚶 第二意见服务和绿色评级

Knut H. Alfsen, CICERO: From Science to Finance: Messages load and clear? | 挪威国际气候与环境研究中心，高级研究员，埃尔夫森先生– Chinese
Judy Li, Ernst & Young: EY Green Bond Issuance Assurance Experience Sharing | 安永华明会计师事务所，大中华区绿色金融业务总监，李菁女士– Chinese

Photos

在全球范围内，人们越发关注气候变化所带来的影响，而且在努力让我们的经济重新走上一条更可持续发展的道路上也有了显著的提升。实现绿色转型需要大量投资，根据中国国家发展和改革委员会的数据，仅就中国而言，达成中国政府的碳减排计划所需的投资将超过6.6万亿美元（41万亿元）。作为开发银行，政府和私营公司使用的一种尽管新颖但却日益获得认可的金融工具，绿色债券可切实提高这类投资所急需的民间资本。

随着中国银行间债券市场绿色债券发行的最新准则和《绿色债券支持项目目录》于2015年12月的发布，中国人民银行（PBoC）成为国内首家提供资产和合格绿色债券项目法规约束的监管机构。考虑到政府扶植绿色转型的坚定承诺——以及中国目前担任20国集团（G20）轮值主席国的背景——中国绿色债券市场有望呈现显著上升的态势，并对本地区乃至全球其他市场产生大规模的溢出效应

德国国际合作机构（GIZ）扩大了其对绿色金融行业发展的承诺，正与瑞典北欧斯安银行（SEB）签署《G20新兴经济体绿色债券市场发展战略联盟协议书》。在全球绿色债券产品和市场的发展上，SEB是全球最早提出绿色债券理念、拥有领先知识的机构。

PBoC、GIZ以及SEB的这次合作得到了中国人民大学重阳金融研究院和中国金融学会绿色金融委员会的共同支持。基于这次合作，我们将于2016年4月7日在北京举办“绿色债券和绿色金融”会议。

本次活动的目的在于展示将环境指标融入金融决策之中的新型研究工具和方法，以调动资金进行绿色投资。根据这些展示内容，我们将与金融专业人士，国际专家和决策者共议下一步将如何支持绿色金融转型。此外，我们为形成一种多方利益相关方的过程寻求支持，而该过程将促进中国绿色债券市场的繁荣和效率。因此，本次会议的参与方包括监管机构和决策者、第二意见提供机构、金融机构、投资者及潜在的公私部门的发行人。

为了实现这一目标，与会者讨论了进一步的措施，这些措施将有助于强化有利的监管框架，从而对可持续发展的绿色债券市场的发展提供支持。来自亚欧的领先的金融机构和绿色债券发行人将现场分享成功发行绿色债券的一手专业知识和经验，来自第二意见提供机构的专家将带来关于绿色债券最高质量认证和验证标准发行的见解。

此外，本次会议将作为一个平台，建立一个强大的网络，并安排与监管机构、潜在发行人和第二意见提供机构一起召开的后续会议。按照GIZ与SEB战略联盟框架安排，这些会议即将举行。

如需了解更多信息，请参阅该会议的议程、演示文稿及图片。